Catalan independence will damage economy say business leaders: poll

Three quarters of Spanish business leaders say Catalonia's plans for independence would damage the country's economy, a new survey shows, with just 1 percent saying it would boost economic growth.

In Catalonia itself, that figure is 43 percent, according to a poll of 265 executives by Deloitte published today in Spanish newspaper El País.

Catalonia’s long-awaited and bitterly controversial referendum on independence from Spain will be held on October 1, Catalan regional President Carles Puigdemont said last month.

The Spanish government last week announced it was putting in place a new system to ensure the region does not use its budget to fund the referendum, which Madrid considers unlawful. Under the new system, Catalan authorities will have to send weekly reports outlining their spending,

According to the El País poll, the tourism sector — which represents 11 percent of Spain's GDP — is especially concerned. All of the executives active in tourism who were surveyed said the region’s independence would be detrimental to the wider economy and three out of four expect it would directly damage their business.

Catalonia was the main destination for international tourists to Spain in 2016, with 17.4 million visitors.